> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/mifir/title-x-final-provisions-art.-52-55/technical-standards/decisions/2020-2127-amending-commission-implementing-decision-eu-2019-541-on.md). # 2020/2127 - amending Commission Implementing Decision (EU) 2019/541 on amending Commission Implementing Decision (EU) 2019/541 on the equivalence of the legal and supervisory framework applicable to approved exchanges and recognised market operators in Singapore in accor | | | | --------------- | ------------------------------------------------------------------ | | **Instrument** | Commission Implementing Decision (EU) 2020/2127 | | **Drafted by** | Commission | | **Legal basis** | Article 28(4) MiFIR | | **Status** | Machine-verified; awaiting MiFIR Level-2 family sample approval | | **Source** | [EUR-Lex](https://eur-lex.europa.eu/eli/dec_impl/2020/2127/oj/eng) | ## Recitals 1. Article 28(1) of Regulation (EU) No 600/2014 identifies the trading venues on which financial counterparties, as defined in Article 2(8) of Regulation (EU) No 648/2012 of the European Parliament and of the Council (2), and non-financial counterparties that meet the conditions in Article 10(1)(b) of Regulation (EU) No 648/2012, can conclude transactions in derivatives pertaining to a class of derivatives that has been declared subject to the trading obligation. The trading venues on which such transactions may be concluded is limited to regulated markets, multilateral trading facilities (MTFs), organised trading facilities (OTFs), and third-country trading venues recognised by the Commission as being subject to equivalent legal requirements and effective supervision in that third country. The relevant third country is also required to provide for an effective equivalent system for the recognition of trading venues authorised under Directive 2014/65/EU of the European Parliament and of the Council (3). 2. In accordance with Article 28(4) of Regulation (EU) No 600/2014, the Commission has, with Implementing Decision (EU) 2019/541 (4), determined that the legal and supervisory framework applicable to approved exchanges (AEs) and recognised market operators (RMOs) established in Singapore and authorised by the Monetary Authority of Singapore (MAS) ensures that they comply with legally binding requirements which are equivalent to the requirements for Union trading venues set out in Directive 2014/65/EU, Regulation (EU) No 596/2014 of the European Parliament and of the Council (5) and Regulation (EU) No 600/2014, and which are subject to effective supervision and enforcement in Singapore. 3. The list of AEs and RMOs set out in the Annex of Implementing Decision (EU) 2019/541 may be updated to extend, where appropriate, the scope of the equivalence decision as laid down under Article 28(4) of Regulation (EU) No 600/2014 to additional AEs and RMOs in Singapore, or to remove AEs and RMOs from the list. The Commission may undertake a specific review at any time where relevant developments make it necessary for the Commission to re-assess the determination made by that Decision. Based on the findings arising from a regular or specific review, the Commission may decide to amend, or repeal that Decision at any time, in particular where developments affect the conditions on the basis of which that Decision is adopted. 4. Since the adoption of Implementing Decision (EU) 2019/541, a number of additional RMOs established in Singapore obtained authorisation from MAS to trade in derivatives pertaining to a class of derivatives that has been declared subject to the trading obligation. In light of the information received from MAS, those additional RMOs comply with the legally binding requirements that Implementing Decision (EU) 2019/541 determined as equivalent to the requirements for Union trading venues set out in Directive 2014/65/EU. The Commission therefore considers it appropriate to update the list of AEs and RMOs set out in Implementing Decision (EU) 2019/541, which should be amended in order to include additional RMOs established in Singapore and authorised by MAS. 5. The measures provided for in this Decision are in accordance with the opinion of the European Securities Committee, ## Article 1 The Annex to Implementing Decision (EU) 2019/541 is replaced by the text in the Annex to this Decision. ## Article 2 This Decision shall enter into force on the third day following that of its publication in the Official Journal of the European Union. ## ANNEX ANNEX ### Approved exchanges authorised by the Monetary Authority of Singapore and considered equivalent to trading venues as defined in Directive 2014/65/EU:\\ 1. Asia Pacific Exchange Pte Ltd;\\ 2. ICE Futures Singapore Pte Ltd;\\ 3. Singapore Exchange Derivatives Trading Limited.\\ ### Recognised Market Operators authorised by the Monetary Authority of Singapore and considered equivalent to trading venues as defined in Directive 2014/65/EU:\\ 1. Cleartrade Exchange Pte Ltd;\\ 2. Tradition Singapore (Pte) Ltd;\\ 3. BGC Partners (Singapore) Ltd;\\ 4. GFI Group Pte Ltd;\\ 5. ICAP AP (Singapore) Pte Ltd;\\ 6. Tullet Prebon (Singapore) Ltd;\\ 7. Nittan Capital Singapore Pte Ltd;\\ 8. Bloomberg Tradebook Singapore Pte. Ltd. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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